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For the exclusive use of I. Amar, 2016. HBSP Product Number TCG 229 THE CRIMSON PRESS CURRICULUM CENTER THE CRIMSON GROUP, INC. University Day Care

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HBSP Product Number TCG 229 THE CRIMSON PRESS CURRICULUM CENTER
THE CRIMSON GROUP, INC.
University Day Care Center
Susan Brooks, Director of the University Daycare Center, was reviewing the year-to-date Budget
Performance Report from the Finance Department of the university. As she tried to analyze the
components of each report, she realized that something needed to be done about the Center’s
financial status. The variance analysis for the Daycare Center showed a shortfall of over $89,000
(Exhibit 1).
BACKGROUND
University Daycare Center (UDC) was affiliated with a large urban university and maintained a
facility located two miles from the main campus. It had passed state inspection in April, and had
opened in July, just in time for the beginning of the fiscal year. The building in which the UDC was
located had formerly been an elementary school. The Center occupied one corridor, with four large
classrooms on each side. Two other corridor ls in the same building were unoccupied and had not
been renovated. At the the end of the hallway was the Director’s office and a small reception area
where parents arrived with their children, usually by eight o’clock in the morning.
The rooms had been carpeted and all of their doors had been removed to decrease the possibility
of injuries. Additionally, the walls had been remodeled so that glass panels occupied the upper half
of each wall on the corridor side. This made it possible for Teachers and Aides to observe children
directly from the hallway. Each room was supplied with furniture, supplies and toys appropriate to
different age groups of children. The infant room, for example, had cribs and bassinets and was
stocked with various sizes of disposable diapers. The facility was cleaned and maintained,
respectively, by the housekeeping and maintenance departments of the university.
In December of the previous year, the university’s Department of Human Resources had
surveyed 300 of the 1250 university employees, including professors, administrative personnel,
laboratory workers, and office assistants, to determine if they would utilize a daycare center. The
survey included questions about fees, hours of operation and coverage for emergencies. The
response was overwhelmingly in favor of providing such a service. The Human Resources Director,
therefore, had drafted a proposal for the following year’s budget and received approval for a oneyear $160,000 subsidy for the operation of a daycare center. Funds for the remodeling and
furnishing of the Center were to be obtained from the Capital Improvement fund and the building

 
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ACC 660 Module Four Presentation: Financial Health Guidelines and Rubric Prompt: As controller, you have been asked to give a PowerPoint presentation

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ACC 660 Module Four Presentation: Financial Health Guidelines and Rubric Prompt: In this assignment, you will build off the work you completed in the Module Two financial health report memo by focusing on the same company and preparing a presentation on its financial health. As controller, you have been asked to give a PowerPoint presentation to the company’s board of directors at the year-end meeting. Using the financial ratio information from your research in the Module Two memo activity, prepare a PowerPoint presentation to discuss your company’s financial condition. 1. Provide a summary of the comparison of the selected company’s financial ratios to those of a competitor. 2. Where are your company’s ratios strong, and where is there room for improvement? 3. What recommendation would you make to improve the selected company’s financial ratios? (Expand on your recommendations from the Module Two memo.) Provide a more detailed rationale for choosing this strategy. If your recommendation is different from the recommended strategy you identified in the Module Two memo, explain why. 4. Based on the company’s mission statement, does the recommended strategy above align with company’s mission? Guidelines for Submission: Your presentation must be submitted as an 8- to 10-slide Microsoft PowerPoint document with detailed speaker notes and at least three scholarly resources cited in APA format. The presentation must use the ratio information from the memo assignment in Module Two. However, the goal of the presentation is to expand upon the following critical elements from the Module Two memo assignment: “Decision of What Steps Can Be Taken To Increase Performance” and “Recommendations.” Instructor Feedback: This activity uses an integrated rubric in Blackboard. Students can view instructor feedback in the Grade Center. For more information, review these instructions. Critical Elements Exemplary Proficient Needs Improvement Not Evident Value Summary of Financial Ratio Comparison Meets “Proficient” criteria and provides rationale as to why the ratio analysis led to further action (100%) Provides a clear and concise summary of the ratio comparison completed in the Module Two memo assignment (90%) Fails to communicate the results of the ratios from the Module Two memo assignment in an understandable way (70%) Does not provide a summary of the ratio comparison (0%) 15 Highlight Strong Ratio Information as Well as Where There Is Room For Improvement Provides evidence of ratios that demonstrate information supporting the areas of strong performance and areas of improvement (100%) Provides evidence of ratios supporting either strengths or weaknesses, but not both (70%) Does not provide evidence supported by ratios (0%) 20 Recommendation of Strategy and Rationale Meets “Proficient” criteria and supports rationale with scholarly articles (100%) Provides a clear and concise rationale of why the recommended strategy was selected (90%) Is vague or unclear about why the selected strategy was selected (70%) Does not provide a rationale (0%) 30 Does the Recommended Strategy Align With Company’s Mission? Meets “Proficient” criteria and directly relates strategy rationale to specifics in the company’s mission statement (100%) Clearly communicates how the strategy selected supports the company’s mission (90%) Fails to show how the strategy is related to the company’s mission statement (70%) Does not provide company’s mission statement or alignment (0%) 30 Speaker Notes Mechanics and style ensure clarity; incorporates multiple properly cited scholarly resources (100%) Mechanics and style promote clarity; incorporates some properly cited scholarly resources (90%) Mechanics and style make narration intelligible; incorporates very few properly cited scholarly resources (70%) Several mechanical errors OR does not incorporate scholarly resources (0%) 5 Total 100%

 
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Cash management is one of the most important responsibilities of a company’s controller. As they say, “cash is king.” According to moneycrashers.

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Cash management is one of the most important responsibilities of a company’s controller. As they say, “cash is king.” 

According to moneycrashers.com, “Businesses must have cash on hand for various reasons, such as investing in new infrastructure and dealing with unexpected expenses. Moreover, a business’s cash flow is often cited as a key factor in its potential for long-term success. A company may have all the revenue in the world, but without the ability to generate cash, it can easily fail.” 

For this discussion, refer to the company that you first chose in the Module Two discussion and analyze its cash position. You might research its cash flow statements in your analysis. What are your plans as controller for managing your company’s cash for the upcoming year? What are some ways to increase the company’s liquidity? 

The company I chose is Walmart

 
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Situation: You are currently working at a mid-sized certified public accounting firm. Your client is Bob Jones. Bob, age 60 and single, has recently

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Situation:  You are currently working at a mid-sized certified public accounting firm. Your client is Bob Jones. Bob, age 60 and single, has recently retired from IBM. He has $690,000 available in his 401(k) fund and he is thinking of using that money to open a used car business that will be located at 210 Ocean View Drive in Pensacola, Florida. Bob has estimated that the business might make $300,000 in taxable income. Bob’s personal wealth including investments in land, stocks, and bonds is about $14,000,000. He reported an interest income of $20,000 and dividend income of $6,000 last year. The $14,000,000 includes land worth $9,000,000 that Bob bought in 1966 for $450,000. Bob has hired your firm for professional advice regarding whether he should operate as a sole proprietor, a partnership, an S corporation, or a C corporation. He is also considering transferring a possible 40% interest in his new business to his daughter Mandy, age 23 and single. Prepare a memorandum to the client, recommending a type of business entity, including an appendix of supporting IRS tax schedules and forms.

I need help with the following:

Determine the economic impact on the client’s financial situation. Based on your decision, determine the potential tax liability, keeping in mind appropriate IRS code and regulations.

Summarize, using moral reasoning, the cash or accrual accounting method in relation to the selected business entity.

 
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